REUTERS
The Verkhovna Rada adopted the bill "On Ratification of the Financial Agreement (Urengoi - Pomary - Uzhgorod pipeline (project for the reconstruction, overhaul and re-equipment of the Urengoi-Pomary-Uzhgorod gas pipeline) between Ukraine and the European Investment Bank" (No. 0041), according to an UNIAN correspondent.
Deputy Energy Minister of Ukraine Oleksandr Svetelyk said at a meeting of the Verkhovna Rada that the project provided for urgent replacement of four sections of the 119 km long Ukrainian part of the pipeline in order to reduce the risk of depressurization of equipment and ensure the restoration of the initially designed pressure level. It also provides for the replacement of two compressor units in a compressor station, to reduce fuel consumption and ensure longer operating life.
254 deputies voted for the bill, with 226 votes necessary for it to be passed.
The deal was concluded on December 1, 2014, in Kyiv. The implementation of the agreement will help mobilize a total of EUR 150 million in lending.
The loan will mature in 5 years, and the project is planned to be completed in 2019, according to the deputy minister.
The ratification of the financial agreement is believed to contribute to unhindered and reliable transit of gas to Europe through Ukrainian territory.